QUALCOMM (NASDAQ:QCOM) Given New $205.00 Price Target at Argus

QUALCOMM (NASDAQ:QCOM) had its target price increased by Argus from $180.00 to $205.00 in a report issued on Tuesday, Benzinga reports. Argus currently has a buy rating on the wireless technology company’s stock.

Several other brokerages have also recently issued reports on QCOM. Cantor Fitzgerald reaffirmed a neutral rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. UBS Group upped their price target on QUALCOMM from $165.00 to $175.00 and gave the company a neutral rating in a report on Thursday, May 2nd. HSBC raised their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Morgan Stanley increased their price target on QUALCOMM from $158.00 to $172.00 and gave the company an equal weight rating in a research report on Thursday, May 2nd. Finally, TD Cowen boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an outperform rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of Moderate Buy and a consensus target price of $180.48.

QUALCOMM Trading Down 0.9 %

Shares of QUALCOMM stock opened at $180.15 on Tuesday. The business has a fifty day simple moving average of $168.62 and a 200-day simple moving average of $148.09. The firm has a market cap of $201.05 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $184.31. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders sold 46,316 shares of company stock valued at $7,796,128 over the last quarter. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the first quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. raised its holdings in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares in the last quarter. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC increased its position in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.